Q.E.P. Co. Inc. Expands Manufacturing Base
BOCA RATON, Fla. – Q.E.P. Co. Inc. completed two acquisitions of U.S. companies last month to boost production of flooring installation tools.
Q.E.P. bought Nupla Corp. (including the HISCO operation) for $6.2 million, net of cash acquired. A manufacturer of professional grade, fiberglass-handled, specialty industrial-grade hand tools, Nupla operates out of two facilities totaling approximately 80,000 ft² in Sun Valley, Calif., and Oklahoma City; 2011 net sales totaled $12.4 million.
Q.E.P. also took control, for $900,000, of the assets of an unnamed U.S.-based OEM supplier/manufacturer of injection-molded products, including trowels, spacers and other products. This new manufacturing capability will provide new market opportunities for the Company worldwide and will serve to supply our non-USA operations.
“Both of these acquisitions follow the path of the Company’s strategy to extend our reach into new markets. With Nupla’s strong presence in the industrial tools markets and non-flooring related industries it opens a whole new world of opportunities,” said Jamie Clingan, Q.E.P. senior vice president of marketing. “Additionally, by adding to our already existing capabilities of being a prime manufacturer of key components to our core flooring markets, it strengthens our commitment and ability to continue to be a full-line supplier to the flooring trades.”
Q.E.P. Co., Inc., founded in 1979, delivers a comprehensive line of hardwood flooring, flooring installation tools, adhesives and flooring related products targeted for the professional installer as well as the do-it-yourselfer, under brand names including QEP®, ROBERTS®, Capitol®, Harris®Wood, Nupla®, HISCO®, Vitrex®, PRCI®, Porta-Nail® and Elastiment®.
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